money saving guide
money saving guide

Let me share the most working & fabulous money saving guide.

In this day and age, stashing money for a rainy day seems far-fetched. Could it be possible that the average joe living from paycheck-to-paycheck can put away an amount for their savings without foregoing their current lifestyle? With so much to consider, don’t fret just yet. Instead, take a short breather and note down your expenditures. Recognize where you spend your expenses, and how , here take a look at our receipt for the past few months. Was it spent on food takeout during that busy midweek project? Perhaps casual Friday drinking with friends or brunch in a nice café in the weekend? We can’t deny they add a bit more spice to our life and want to keep it in our routine.

Why is it so hard to save?

To get money saving guide, please think that, these spending habits are what keeps us away from budgeting. The HuffPost Australia once quoted financial advisor Nicole Heales that spending habits are directly proportional to any lifestyle change. She also advised to adjust an individual’s lifestyle accordingly within their means instead of living outside the margins they can afford, especially when taking inflation into consideration. According to Nicole, the expectation for a good lifestyle, which is often expensive, is hard to meet. And while there is no problem with that, it poses a problem when people become impractical with their finances. This is the most working & fabulous money saving guide.

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Most Practicable Money savings guide Australia!

Waiting for the money tree?

Canna Campbell of SugarMammaTV told HuffPost Australia how she, too, concurs with the statement. She observes that with every pay rise received, changes in lifestyle is soon to follow. And toward the end of a pay cycle, we often struggle because the small spending we do to maintain the nice lifestyle exceeds what we can actually afford. She advised for one to observe their own spending so that one may truly make changes. This is the most employed & excellent money saving guide.

Regular spending Behaviours

Now we understand how a spendthrift lifestyle is one of the factors to a lower savings balance, so what about it is slowly depleting our bank balance?

This goes out to caffeine lovers. A cup (or a few) could probably sustain you until the end of the work shift, but it is also the biggest contributing factors to a limited savings.

Heales’ Financial put into perspective how a small amount of coffee a day or two may not seem like much, until you look at the accumulative amount for your food budget. Her list accumulated about $20 daily, which adds up to $100 weekly and just like that, $5000 have been spent on eating. This excludes expenditure for entertainment, and other clothing items. It is imperative to work within individual constraints to get the most effective money saving guide.

One advice from Heales recommends waiting for sale season or planning low-cost holidays to get best value.

Another advice from Campbell suggests evaluating your values and spend according to those values, or on life-enriching experiences. By evaluating your values in life, there is an understanding of a system and the balance of living within means. She elaborates that as long as spending balanced, it’s more than okay to treat yourself to an expensive wine or a bit of shopping. But spending too much on provisional items may cause negative impacts on not only our financial but emotional being as well. This is the most working & wonderful money saving guide.

Check our post on How to choose best bank account for you

Saving tips for common items
Can we possibly cut back costs on everything including groceries and health items?

Good news, we can. 
First tip is to make a checklist of things that you do not have and then going to the store. Do you really need another carton of milk? Next, choosing a grocery store.

A competitively priced
supermarket or a local grocer would always give you the better prices aside
from getting generic items or the ones listed on sale.

Both financial advisors advise saving is always possible when you look for the right items or go at the right times.
Heales strongly supports sale seasons to get good deals. Also, you won’t be paying full price! Another tip is to swap clothes.

As this is the site for rich ideas of income, savings, investments, interest calculations, choosing best bank accounts, choosing personal loan, mortgage and growing your money, so please comment how you like these tips & also include any more ideas if you have, in the comment section or on the MoneyDea Facebook page.

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